mm2 Asia

mm2 Asia: FY16 results in line; UOB Kay Hian raised TP to $0.74 from $0.64.
- Evolved substantially through a slew of shrewd acquisitions into a true entertainment
business.
- Management has indicated its willingness to expand deeper into North Asia. Going by the number of strategic partnerships that the group has established, UOB Kay Hian expects more strategic tie-ups with companies in China, Hong Kong
and Taiwan.
- Remains a compelling entertainment stock with an attractive forecasted 3-year EPS CAGR trajectory of 35% for FY16-19F.